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A Benefit-Cost Analysis of the Middle Fork Greenway Trail

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  • John C. Whitehead
  • John Lehman
  • Melissa Weddell

Abstract

The Town of Boone, NC Greenway Trail is a 3.84 mile long paved trail with additional unpaved sections that attract many types of users including walkers, joggers, and cyclists. The proposed Middle Fork New River extension would add 6.5 miles to the total paved mileage. In order to estimate recreation benefits of the extension we use revealed and stated preference data to estimate the change in value of current visits and change in visits with the additional mileage. The total opportunity cost of the project includes land acquisition, construction, operation and maintenance costs. Considering only recreation benefits the Middle Fork Greenway Trail passes a benefit-cost test. The net present value is estimated to be $2.78 million. This conclusion does not change after considering a number of partial sensitivity analyses. Key Words:

Suggested Citation

  • John C. Whitehead & John Lehman & Melissa Weddell, 2016. "A Benefit-Cost Analysis of the Middle Fork Greenway Trail," Working Papers 16-01, Department of Economics, Appalachian State University, revised 2016.
    • Handle: RePEc:apl:wpaper:16-01
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    File URL: http://econ.appstate.edu/RePEc/pdf/wp1601.pdf
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    References listed on IDEAS

    as
    1. Timothy C. Haab & Kenneth E. McConnell, 2002. "Valuing Environmental and Natural Resources," Books, Edward Elgar Publishing, number 2427.
    2. J.M. Bowker & John C. Bergstrom & Joshua Gill, 2007. "Estimating the Economic Value and Impacts of Recreational Trails: A Case Study of the Virginia Creeper Rail Trail," Tourism Economics, , vol. 13(2), pages 241-260, June.
    3. Carter Betz & John Bergstrom & J. M. Bowker, 2003. "A Contingent Trip Model for Estimating Rail-trail Demand," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 46(1), pages 79-96.
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    1. New working paper: "A Benefit-Cost Analysis of the Middle Fork Greenway Trail"
      by John Whitehead in Environmental Economics on 2016-01-11 17:30:57

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